Category: Business

An immersive banking simulation was the focus of the corporate event Run the Bank Simulation, which was created for HR and L&D professionals. Zoom was used to conduct the event, which happened on March 27, 2024. Through the use of a simulated banking operation, participants in the simulation were able to examine important business divisions of banks. It was intended to provide participants with firsthand knowledge of customer service, important performance metrics, and how each division of the bank works together to achieve its overall goals.

Noopur Agarwal, Senior Consultant Trainer of MDA Training oversaw the event. With more than 14 years of experience, Noopur Agarwal has combined her knowledge from the training sector and a number of financial organizations. Professionals in HR and L&D who would find value in seeing the run-the-bank simulation were the target audience for the event. With only a few seats available, the program was exclusive and focused on experiential learning. Aspects of banking operations such as corporate banking, wealth and asset management, investment banking, and retail and consumer banking were all included in the simulation. Adapted to the unique requirements and key performance indicators of the participating bank, it was made to be dynamic, adaptable, and interactive. The simulation also demonstrated how crucial it is for the bank’s many departments to work together and how risk management contributes to improved performance. The goal of this event was to deliver an insightful and useful learning experience. It was well welcomed and received positive feedback from the participants for its immersive and interactive simulations that help build real-world insights and abilities.

Leading international organizations and Finance Equities trust MDA’s innovative simulations for manufacturing, finance, insurance, and other industries. MDA Training is a dependable partner for corporate training not only because of its skill in developing interesting, immersive, and practically-based training but also for organizing such healthy events and sessions for participants.

Pakistan (Muhammad Yasir)

The 11th UBL Literature and Arts Awards were held in Karachi at a five-star hotel, attended in large numbers by writers, literary and media personalities, socialites, and celebrities. At every event, the celebrated awards recognize and celebrate the best of Pakistani writers and artists, honoring a longstanding commitment to arts and literature.

The various award categories received hundreds of nominations from all over Pakistan. The competition was open to all Pakistani authors who had published their original work in 2021 and 2022. Entries were shortlisted by an esteemed panel of judges. The jury members in the Urdu categories were Dr. Asghar Nadeem Syed, Dr. Arfa Syeda, Dr. Anwaar Ahmed, Ms. Kishwar Naheed and Dr. Nasir Abbas Nayyar, while jury members for the English categories included Dr. Naazir Mahmood, Dr. Aroosa Kanwal and Mr. Harris Khalique.

The winners in each category as declared at the Awards are:

• Children’s Urdu Literature presented to Ahmed Adnan Tariq for ‘Dastaan-e-Ameer Hamza’.
• Children’s English Literature presented to Marzieh Abbas for ‘Nadia and Nadir Series’.
• Translation into Urdu (joint awards) presented to Inam Nadeem for ‘Aaina Si Zindagi’ and Ms. Yasmeen Hameed for ‘Janubi Asia Ki Muntakhib Nazmein’.
• Urdu Poetry award presented to Mohsin Shakeel for ‘Kuch Ishq Kiya’.
• Pakistani Languages award given to Syed Wiqar Ali Shah for his work ‘Abdul Ghani Khan – Zhwand Au Zamana’ in Pushto language.
• Online Literature award presented to Nayyar Mustafa for his work ‘Rangon Main Sochnay Wali Larki’.
• Song Lyrics Award presented to Sabir Zafar.
• Drama Script presented to Hashim Nadeem for his play ‘Parizaad’.
• Urdu Debut presented to Ahmad Jahangir for ‘Shah Darya’.
• English Fiction presented to Haroon Khalid Akhtar for his work ‘Liar’s Truth’.
• English Non-Fiction award given to Tariq Rehman for ‘Pakistan’s Wars: An Alternative History’.
• Urdu Fiction Award presented to Aurangzeb Khan Niazi for his book ‘Urdu Abad – Maholiyati Tanazur’.
• Urdu Non-Fiction award given to Shaheen Abbas for his work ‘Leema Yakka Ban’.

The awards also included a special category to celebrate the wide reaching impact of a celebrated artist who has produced exemplary work across a long distinguished career. The prestigious ‘Lifetime Achievement’ award was awarded to the exemplary Ms. Zaheda Hina.

The awards were interspersed by light entertainment and ended with a lavish dinner for all the participants. It was hosted by well-known celebrities Mr. Sajjad Hasan and Ms. Faiza GIllani.

Mr. Zia Ijaz, Deputy CEO UBL, in his message during the awards, said “As a responsible Corporate Citizen UBL has played its part in the betterment of society through many of its own efforts. The UBL Literature & Arts Awards have been a cornerstone of one of our initiatives of giving back to the society through the recognition of indigenous talent across the country.”

With each iteration of the award, the UBL Literature & Arts Awards support, motivate and celebrate talented Pakistani writers. The Bank recognizes the importance of arts and literature in helping society feel fulfilled, inspired and proud of its roots. It encourages budding Pakistani artists to continue producing their works in a variety of different genres, knowing that there are celebrated local platforms where they can be recognized. It is through such ventures that the literary tradition lives on and benefits the current and future generations.

Zindigi JS Bank & 5th Pillar Family Takaful Signed MoU to facilitate customers for Hajj and Umrah on easy installments.

 

Karachi (Muhammad Yasir) The Digital banking Initiative of JS Bank, Zindigi, has partnered with 5th Pillar Family Takaful, a prominent provider of Takaful products and services, to make Hajj and Umrah pilgrimages more accessible.

This collaboration brings together Zindigi’s user-friendly digital platform with 5th Pillar’s established Hajj and Umrah saving plans including the end-to-end value chain. This means customers will be experiencing a hassle-free, pilgrimage saving and traveling plan directly through Zindigi Mobile App.

“We are delighted to partner with 5th Pillar Family Takaful so we can offer one window solution for Hajj and Umrah to our customers,” said Mr. Atif Ishaque, Chief Business Officer Zindigi JS Bank. Mr. Asim Raja, the Chief Commercial Officer of 5th Pillar Family Takaful added that “This collaboration aligns perfectly with our mission to make Hajj and Umrah accessible to everyone. By combining our expertise with Zindigi’s digital capabilities, we can empower more people to embark on these sacred pilgrimages.”

The partnership between Zindigi and 5th Pillar Family Takaful represents a significant step towards making Hajj and Umrah pilgrimages more accessible and convenient. This collaboration not only simplifies the process but also reaffirms the commitment of both organizations to support their customers in fulfilling their spiritual journeys.

 

The British Asian Trust founded by His Majesty The King and supported by leading members of the Pakistani diaspora, together with Punjab Skills Development Fund, launch work on Pakistan’s first ever Development Impact Bond The work has already generated interest and secured design funding from the ‘Outcomes Accelerator’; funded by leading donors including FCDO, SECO and UBS Optimus Foundation.

Lahore –  The British Asian Trust, founded by His Majesty King Charles III together with leading British Asian business leaders, and the Punjab Skills Development Fund (PSDF), Pakistan’s largest skills development fund, signed a landmark agreement at the British Deputy High Commission in Karachi.

The signing formalized their partnership to build Pakistan’s first Employment Impact Bond and was hosted by Mr. Martin Dawson, Deputy Head of Mission. Human capital constraint is a critical factor for Pakistan’s slow economic growth and low global competitiveness. With over four million youth becoming working-age in Pakistan each year, equipping them with future-ready skills can serve as a powerful driver for economic advancement in the country.

The Employment Impact Bond is being designed to ensure 40,000 jobs for young people in key growth sectors and drive a focus on long-term employment outcomes, while unlocking new capital to fund social impact in Pakistan.

Impact bonds are innovative financing instruments that leverage private sector capital and expertise for development, with a focus on achieving results. They shift the focus from inputs to outcomes, performance, and results through financial incentives. Global interest in this initiative has already led to the British Asian Trust and PSDF being awarded design funding from the Outcomes Accelerator created by the UK’s Foreign, Commonwealth & Development Office (FCDO), Swiss State Secretariat for Economic Affairs (SECO) and UBS Optimus Foundation and managed by Levoca.

The design of the impact bond will draw on successful examples from global contexts and will benefit from the British Asian Trust and PSDF’s shared expertise in innovative finance and skilling. Kamyla Marvi, British Asian Trust Pakistan Director, said, “This partnership with PSDF marks a significant milestone in our efforts to drive employment for the youth of Pakistan. We are excited to bring international expertise to support the local design of the country’s first impact bond for employment. We genuinely believe that this is an opportunity to transform the approach to development finance in Pakistan leading to greater innovation, efficiency and scale.” At the signing ceremony, Ali Akbar Bosan, COO PSDF, said, “This pioneering initiative represents a revolutionary approach to funding skills training, set to transform the landscape of skilled workforce development.

The feasibility study will evaluate the potential impact, scalability, and financial viability of the Employment Impact Bond, laying the foundations for future programmes. This first-of-its-kind venture in Pakistan is our commitment to innovative solutions that address the pressing need for skilled labour, promising a significant shift in how skills training programmes are financed and implemented.”

Punjab Skills Development Fund (PSDF) is dedicated to vocational training and skill development by equipping the local workforce with market-relevant skills. Over the past 13 years, PSDF has funded the training of over 650,000 young people, 42% of whom are female. PSDF collaborates with over 600 training providers from government bodies, private sector, and international organisations to implement a wide range of training programmes in more than 250 trades across 2,500 training locations across Pakistan.

The British Asian Trust, recognised as a pioneer in social finance instruments such as impact bonds in South Asia, is regarded as a global leader in this space and has extensive experience securing employment outcomes. The Trust has used its expertise to build the market for innovative financing and grow impact investment opportunities in Pakistan, leveraging learnings from past and on-going work in the region, strong relationships with international funders and investors, and deep connections with the UK diaspora and the in-country Pakistan Advisory Council.

Lahore (Muhammad Yasir)

Central Business District (CBD) Punjab is proud to announce the successful conclusion of its third auction of commercial plots, generating a total revenue of PKR 6.55 billion. This event marks yet another milestone for CBD Punjab, following the success of two previous auctions, further solidifying its reputation as a premier business hub in the region. The auction featured three prime mixed-use commercial plots located in the prestigious CBD Punjab Business Bay. The plots presented at this auction were highly sought after, attracting bidders from all over the country, showcasing the significant interest and demand for these premium properties. The competitive bidding atmosphere highlighted the strategic importance and investment potential of these plots. Notable participants included some of the most prominent names in the industry such as BSM Developers, Zameen.com, Enrichers Investment Group, Banu Mukhtar, and Grand City. The first plot, CBD Punjab Business Bay 1, spans 8.73 kanals with a Floor Area Ratio (FAR) of 1:16 and was sold to BSM Developers for a total amount of PKR 2.32 billion. This plot is expected to become a landmark development, given its strategic location and the reputation of the developer. The second plot, CBD Punjab Business Bay 2, measuring 8.89 kanals, was acquired by Zameen.com for PKR 2.15 billion. As a leading real estate portal. The third plot, CBD Punjab Business Bay 3, measuring 6 kanals, was also sold to BSM Developers for PKR 2.8 billion, indicating their strong interest and belief in the prospects of CBD Punjab. Imran Amin, CEO of CBD Punjab, expressed his satisfaction with the outcome of the auction, stating, “We are thrilled with the overwhelming response from esteemed developers and investors across the country. The successful auction of these commercial plots underscores the immense potential and trust in CBD Punjab as a prime investment destination. We are committed to transforming the business landscape of Punjab and fostering economic growth through such strategic developments.” This successful auction reaffirms CBD Punjab’s commitment to providing lucrative investment opportunities and developing a world-class business district that meets the highest standards of urban planning and sustainability. The consistent interest from top-tier developers and investors highlights the credibility and future potential of CBD Punjab as a leading commercial and business hub in Pakistan.

TikTok enhances community safety with updated guidelines and new features for creators.

Pakistan (Muhammad Yasir) TikTok announced significant updates to its Community Guidelines and the introduction of new features aimed at empowering creators and ensuring a safe and enjoyable environment for the global community.  Effective from May 17, these updates include clearer definitions, new features for understanding policies, and improved tools for monitoring account status.

TikTok has refined its Community Guidelines to provide clearer definitions and more detailed information on policies related to hate speech, health misinformation, and content moderation. These enhancements are designed to improve user understanding and transparency regarding TikTok’s rules and enforcement processes.

To ensure a safer experience on the For You feed, TikTok is implementing new eligibility standards. Creators who repeatedly post content that violates these standards will see their accounts temporarily ineligible for recommendation in the For You feed. Additionally, their content will be less visible in search results. Affected creators will receive notifications and have the opportunity to appeal these decisions.

In an effort to assist creators in understanding TikTok’s rules, the platform is introducing a warning strike system. When a creator violates Community Guidelines for the first time, they will receive a warning that does not count toward their account’s strike tally. Future violations, however, will be tracked and penalized accordingly. TikTok will inform creators of the specific rules they have breached and provide guidance on the appeals process for potential errors.

To further support creators, TikTok is rolling out a new feature called ‘Account Check.’ This tool allows creators to audit their accounts and recent posts, providing a clear overview of their standing on TikTok. ‘Account Check’ will indicate any restrictions on features such as comments or direct messaging due to guideline violations, and highlight content removed or restricted from the For You feed. This feature complements the existing ‘Account status’ page, offering a comprehensive view of a creator’s adherence to platform rules.

Additionally, TikTok is introducing the TikTok Creator Code of Conduct, setting standards for creators participating in TikTok programs, features, events, and campaigns. This code, which will be enforced in the coming weeks, outlines the responsibilities of creators both on and off-platform, ensuring a consistent and positive experience for all participants.

TikTok remains committed to enhancing the safety and experience of its over one billion users worldwide. These updates underscore TikTok’s dedication to supporting its creator community with the tools and information needed to thrive on the platform.

Leading the pack with innovative gifts and unique ideas to captivate its users, TECNO, Pakistan’s renowned global smartphone brand, has come up with yet another grand surprise.

The brand never fails to amaze us, does it? Each time they outdo themselves with something even more impressive. This time, however, the surprise is bigger and more spectacular than you can imagine, promising to exceed all expectations with an exciting competition and incredible line of prizes.

TECNO Pakistan just announced the year’s biggest competition: the SUPER AWARDS. The contest is called “SHOT ON CAMON”!

This year is mostly all about the new CAMON30 Series, which is the ultimate game-changer. With its top-notch features and awesome giveaways, it’s been winning over users and followers left and right.

This contest offers a variety of categories attuned to your expertise and interests. First up is “Colourful Discovery”, inviting submissions that depict the vibrant hues of nature or anything fitting the category’s theme. Next is “Poetic Portrait”, where art, beauty, and depth intertwine with your personal touch of imagination. Then there is “Super Night”, about portrayals of the mesmerizing beauty of the night, from starry skies to scenes that evoke the essence of nighttime. Following that is “Creative Perspective”, providing a platform to exhibit your unique creative angle. Lastly, there is “Life in Motion”, a special category for vloggers to show dynamic aspects of life and surroundings. The possibilities are endless, as long as you incorporate aesthetics into your content.

With Super Awards, always come the super prizes.

First up, we have the “TECNO Photography Master” award, where one lucky winner will walk away with a whopping $5,000 cash prize. Next, we have the “London Photography Tour Award”, offering a thrilling three-day photography tour for seven participants.

Moving on, we have the prestigious Gold Award with a generous winning amount of $3,000. The Silver Award winner isn’t far behind, with a chance to snag $2,000. And last but not least, the Bronze Award winner will take home a cool $1,000. In total, there will be 15 winners across the Gold, Silver, and Bronze Award categories.

But wait, that’s not it! There’s also an exclusive award category reserved for non-CAMON or non-TECNO users.

Non-TECNO and Non-Camon 30 users can join the fun by resharing their favorite works using the same hashtags on their Instagram. Out of all the entries, 10 participants with the most likes stand a chance to win a CAMON 30 Series phone.

How to apply for the SUPER AWARDS?

Global TECNO users can select any submission category, share their best work captured with TECNO CAMON30 Series phones on Instagram using the specific hashtags #ShotOnCAMON and #TECNOCAMON30Series, while also submitting high-quality entries along with personal information to the official email address (shotoncamon@tecno-mobile.com) in this format:

Subject: [Country Name] + @IG Username + ShotOnCAMON

Body: Name of Submission Categories and Title of Work. Specify the category for each submission.

Please note that you cannot submit the same work to multiple categories.

Attachments:

• High-res images with TECNO watermarks (short edge ≥1000px, <30MB, JPG).
• Screenshots of complete EXIF information.
• Videos shot with TECNO phones (<500MB, ≤90s, MP4), with cover image (short edge ≥1000px, <30MB, JPG).

Submission dates are from May 15th to September 30th, 2024. With competition heating up, time is precious, so act fast.

 

INNOVATIVE PVT LTD (IPL) CLINCHES “BEST PERFORMANCE AWARD” AT DIEBOLD NIXDORF PARTNER SUMMIT 2024.

Karachi (Muhammad Yasir) Innovative Pvt Ltd (IPL) has once again proven its market leadership by securing the prestigious “Best Performance Award”, recognized as the top award of the region, at the Diebold Nixdorf Partner Summit 2024. This marks the fourth consecutive year that IPL has been honored at the summit, solidifying its status as a dominant force in the field of Self-Service Banking Solutions. With this latest accolade, IPL has now won a total of seven Diebold Nixdorf Awards, highlighting its consistent excellence and industry leadership.

Over the past three years, IPL has consistently demonstrated exceptional performance and innovation, earning accolades such as the Best Market Penetration Award 2022-23, the Best Market Share Growth Partner Award 2021-22, and the Strategic Win Award 2020-21. This year’s recognition further underscores IPL’s steadfast commitment to excellence and its pivotal role in driving industry standards.

Reflecting on this milestone, Naveed Ali Baig, CEO Innovative Pvt Ltd (IPL) said: “We are incredibly honored to receive the Best Performance Award at the DN Partner Summit 2024. This achievement is a reflection of our team’s hard work, dedication, and our continuous pursuit of excellence. We are proud to be recognized by Diebold Nixdorf, a global leader in banking and retail technology, and we remain committed to advancing innovation and excellence in our services.”

The Best Performance Award is a testament to IPL’s outstanding achievements in market coverage, customer satisfaction, and technological innovation. It reflects the company’s dedication to delivering cutting-edge solutions and unparalleled service in Pakistan and Afghanistan, representing industry giants.

Karachi (Muhammad Yasir)

The graduation ceremony for the flagship Islamic Finance Talent development program – Meezan Justuju, was held today at the Institute of Business Administration (IBA) in Karachi. Chairman IBA CEIF (Centre of Excellence in Islamic Finance) and ex-Governor State Bank of Pakistan – Dr. Ishrat Hussain, graced the occasion as the Chief Guest. Founding President & CEO Meezan Bank – Mr. Irfan Siddiqui, Deputy CEO Meezan Bank – Syed Amir Ali, Director IBA CEIF & Group Head Shariah Compliance, Meezan Bank – Mr. Ahmed Ali Siddiqui were also present at the ceremony. The Profit before Tax of the Islamic banking industry surpassed PKR 393.4 billion during the August to December quarter of 2023. With a network spanning over 5,000 branches, an asset base exceeding PKR 9 trillion and a deposit base of PKR 6.75 trillion, Islamic finance in Pakistan is not only outpacing conventional banking but also gaining significant global traction. This momentum is driven by its alignment with responsible investing and its appeal to both traditional Muslim markets and beyond. This demand coupled with the approaching deadline mandated by the Federal Shariah Court for a full transition to an Islamic finance system by 2027, has heightened the need for Islamic finance training. The partnership between Meezan Bank and IBA represents a crucial step in addressing this shortage and facilitating the transformation of Pakistan’s economy into one that is interest-free and asset-based. Dr. Ishrat Hussain, who played a pivotal role in establishing Islamic banking in Pakistan, extended his best wishes to the program participants and advised them to seize this valuable opportunity. He emphasized the importance of upskilling the youth and expressed appreciation for the collaboration that has facilitated skill-based learning and enhanced the employability of the participants. “There is a growing need for human resources in the Islamic finance industry, especially as the economic system is slated to undergo changes by 2027,” he stated. Founding President and CEO of Meezan Bank, Mr. Irfan Siddiqui, stated, “The initiative of Meezan Justuju with IBA CEIF demonstrates Meezan Bank’s strong commitment to nurturing talent and promoting the growth of Islamic finance in Pakistan. By investing in the education and training of young professionals, Meezan, as an industry leader, aims to facilitate the Islamic Finance industry of Pakistan.” Mr. Ahmed Ali Siddiqui, Director of IBA CEIF, remarked, “We are witnessing a remarkable 24% growth in the country’s Islamic banking industry, accompanied by a surge in demand for trained resources. With almost 5,000 Islamic banking branches now established, there is an average requirement of nearly 4,000 skilled Islamic bankers to meet industry demands. The Meezan Justuju program stands as a distinctive collaboration between industry and academia, forging a network of highly skilled Islamic bankers while empowering aspiring professionals to contribute to a responsible and equitable financial system.” Syed Amir Ali, Deputy CEO of Meezan Bank, said, “As the fifth most populous country in the world, Pakistan has a significant opportunity to harness the potential of its youth. However, the country’s female workforce participation remains limited, standing at only 22%. I am delighted to witness the enthusiastic participation in Meezan Justuju, which presents an excellent opportunity for upskilling and contributing to the country’s GDP.” He underscored the urgent necessity for fresh graduates to integrate into the economy, stating, “The skills and knowledge acquired through programs like Meezan Justuju will prove invaluable as the demand for Shariah-compliant financial solutions continues to rise. Every rupee earned will contribute to the GDP.” The ceremony celebrated the achievements of the talented participants as they received their certificates. The event also provided a valuable opportunity for recruiters to select graduates for roles in the Islamic financial industry.

Karachi (Muhammad Yasir)

Engro Fertilizers, Pakistan’s premier seed-to-harvest solutions provider, has been recognized as the winner of the prestigious International Fertilizers Association (IFA) Green Leaf Award 2024 in the Nitrogen Category, for its exceptional performance in health, safety and environmental (HSE) practices. Presented every two years, the IFA Green Leaf Award is regarded as the gold standard for fertilizer manufacturers globally. In 2024, a record 47 eligible applications from 27 member companies were received by IFA. An independent panel of judges evaluated the award based on performance records in key areas such as lost-time injury, sickness rate, and annual emissions over the previous five years. Previously, Engro Fertilizers secured the first runner up position in nitrogen category at the IFA Green Leaf Award 2020. Commenting on this achievement, Ali Rathore – CEO of Engro Fertilizers said, “At Engro Fertilizers, safety, health, and environmental management are the cornerstone of our operations. Our steadfast dedication to HSE principles, upheld by every member of our team, has earned us the trust of stakeholders across the value chain. With our initiatives to advance innovation and sustainable practices, we look forward to making continuous impact for all stakeholders and contribute towards enabling the food security of Pakistan.” According to the IFA team, Engro Fertilizers has demonstrated strong dedication to reducing emissions and promoting sustainability, reflected through its HSE programs and the ECO-GREEN project. The 60-day ECO-GREEN project enhanced plant energy efficiency by inspecting and repairing 400 pieces of equipment and installing low NOx burners, and positioned the Company at forefront for their exemplary environmental stewardship practices. In 2023, the Company reported a remarkable TRIR rate of 0.03 across its facilities, with zero loss workday injuries registered at the manufacturing facilities.